Ardonagh Group, a British insurance group backed by the Abu Dhabi Investment Authority (ADIA), is reportedly close to raising $2.5 billion to fund its expansion.
The London-based company will also use the funds for potential acquisitions, Bloomberg reported, citing unnamed sources.
In December 2024, Adia and US private equity Stone Point Capital announced an investment in Ardonagh, which put its valuation to $14 billion.
The insurance brokerage has already purchased companies in Brazil, Spain, Italy and Australia.
The Ardonagh deal is one of a number the Emirati sovereign fund has undertaken in Europe.
This week, it agreed to buy a significant minority stake in European Camping Group, a key player in the European outdoor hospitality sector, from private equity company PAI Partners.
